Sunshine Empire pair jailed 9 years / 7 years Options

[Mockngbrd]

http://www.straitstimes.com/BreakingNews/S...ory_559812.html

Sunshine Empire pair jailed


By Carolyn Quek

THE flamboyant founder of Sunshine Empire, who amassed $180 million in 15 months, and his former director were jailed by a court on Friday for running a fraudulent scheme and for faking accounts.

James Phang Wah, 50, and former director Jackie Hoo Choon Cheat, 30, had enriched themselves by at least $8 million through Sunshine's multi-level marketing scheme.

Phang was sentenced to nine years jail and fined $60,000 while Hoo was jailed for seven years.

Phang's wife Neo Kuon Huay, 47, who was found guilty of falsifying payment vouchers together with Phang, was fined $60,000. They did this so that she could receive commissions amounting to nearly $1 million.

Some 20,000 people bought into the flashy scheme, which promised high returns on its lifestyle packages.

Sunshine sold these packages at its plush Toa Payoh Central office for over 15 months, before it was raided by officers from the Commercial Affairs Department (CAD) in November 2007. The packages ranged from $240 to $12,000 and offered attractive bonuses and incentives.

What was unique was its customer rebate points (CRP) system, which allowed participants to use the points to buy goods online. Phang and Hoo had assured participants that CRP was derived from the firm's turnover on its e-commerce platform.

Like other Ponzi-like schemes, rewards for participants came from fresh money secured from those joining later.

[Gobbler]

after 9 years jail, still can enjoy $8mill?

[SimonTan]

fined $60,000

Sup sup soy lah!

9 years......sure to appeal right?
Maybe in the end 4 years.....inside can write books, think of new scheme.
Thinking of his $180million in some swiss bank waiting for him to enjoy after the jail term....

[SimonTan]

Its ironical....we may laugh at his jail terms....but who is the real winner? It could actually be him!
If really he had invested the $180million somewhere somehow. Be it swiss/london properties, or maybe he purchased some bonds or gold bars.
All these will appreciated(or had already appreaciated greatly this year), nine years come out....I am sure his $180million would have duobled!

[Freestylers09]

spending few years in jail is not a good feeling

give u that amount now and go in...how many really want...sigh

[Altec]

spending few years in jail is not a good feeling

give u that amount now and go in...how many really want...sigh

For 180 million I wash my ass clean clean ready to go in anytime.

[Freestylers09]

u rather tio lut ah?

[Bavarian]

What % of the $$$ was recovered? Is he co-operative to return the $$$?

If not, 9 years is too short. 30 years or life so that he can never enjoy his ill-gotten gain. Ditto his accomplices.

[Galantspeedz]

u rather tio lut ah?

with that kind of money.... i am sure you can pay not to get lut... in fact you can pay to lut people instead...

[SimonTan]

Just give me $30million....I will go in for 9 years.

With his reputation and money, he will not get lut. I think guards and prisoners may want a piece of his $$ pie.
Many might want to learn his business mind and strategy.
Many might give him favours so that when they meet outside, hopefully can get some sunshine goodies.

[Yuan]

with that kind of money.... i am sure you can pay not to get lut... in fact you can pay to lut people instead...

First pay to get connections before going in....

Then pay to lut people inside.....

[Galantspeedz]

First pay to get connections before going in....

Then pay to lut people inside.....

yeah.. and you get to lut the virgins

you want to get PS3 ar?

[Yuan]

Just give me $30million....I will go in for 9 years.

With his reputation and money, he will not get lut. I think guards and prisoners may want a piece of his $$ pie.
Many might want to learn his business mind and strategy.
Many might give him favours so that when they meet outside, hopefully can get some sunshine goodies.

Maybe they discuss plans and form strategies liao. Cannot move about physically inside.

But their proxies outside can go about their businesses.

[Damienic]

How come the wife din get any jail term but was fined only 60,000?

[Freestylers09]

what if $ tio confiscated or what?

spending in jail is not a joke de leh...some might tot v song..LOL

[Yuan]

yeah.. and you get to lut the virgins

you want to get PS3 ar?

I just want to find out more info before considering to buy....but the thread very crazy.....suddenly increase so many pages.....No wonder these days all the top posters from PS 3.

[Hoppie24]

For 180 million I wash my ass clean clean ready to go in anytime.

I think quite worth it leh, you got nothing to do inside anyway, eat full, sleep, sleep full, eat. Come out retire to Switzerland with the 180m!

[Ender]

Howcome fraud against company like SIA($34 million) & Asia Brewery and banks($117 mil) get 24 yrs & 42 yrs sentence respectively? As oppose to this guy who swindle the common people of $180mil?

[Jermy]

Howcome fraud against company like SIA($34 million) & Asia Brewery and banks($117 mil) get 24 yrs & 42 yrs sentence respectively? As oppose to this guy who swindle the common people of $180mil?

crimes against companies are much worst than those against common folk?

since Phang's wife wasn't jailed, i'm sure she'll be hatching plans on how to hang on to their illegally gotten gains whilst her hubby is in jail...

[Damienic]

The sentence meted out to james and jackie is reasonable while iam shocked that james wife was fined only 60,000 and wasn't given any jail term.